Canadian seniors may have heard reports about a $2,455 Old Age Security (OAS) payment coming in February 2025.
While these reports are creating a buzz, it’s essential to clarify what this means and how OAS and Guaranteed Income Supplement (GIS) payments work.
This guide breaks down the OAS program, eligibility criteria, and payment schedule to help you understand if and when you’ll receive this payment.
What is the Old Age Security (OAS) Program?
The Old Age Security (OAS) pension is a monthly benefit available to seniors in Canada who meet specific age and residency requirements.
Unlike the Canada Pension Plan (CPP), which is based on contributions during your working years, OAS is funded through general tax revenue and is available to most seniors who have lived in Canada for a significant period.
2025 OAS Monthly Payment Amounts
- Ages 65–74: $727.67 per month
- Ages 75+: $800.44 per month
Guaranteed Income Supplement (GIS)
Low-income seniors can receive the Guaranteed Income Supplement (GIS) in addition to their OAS pension. The GIS amount varies based on income and marital status. For single seniors, the maximum monthly GIS in 2025 is $1,086.88.
| Age Group | Max OAS Payment | Max GIS Payment | Total Monthly Payment |
|---|---|---|---|
| Ages 65–74 | $727.67 | $1,086.88 | $1,814.55 |
| Ages 75+ | $800.44 | $1,086.88 | $1,887.32 |
Is There Really a $2,455 OAS Payment in February 2025?
While many seniors are hearing about a $2,455 payment, this is not a standard OAS payment for all recipients. Here’s what might lead to such a high payment:
- OAS + GIS Payments Combined:
Seniors receiving both OAS and GIS could receive up to $1,887.32 monthly. - Retroactive Payments:
If you’ve recently applied for OAS and GIS or had an adjustment made to your benefits, you could receive retroactive payments that increase your February 2025 deposit significantly.
However, $2,455 is not a one-time lump sum available to all seniors. Your actual payment depends on your income, residency, and whether you qualify for GIS or other supplements.
Who Qualifies for OAS Payments?
Basic Eligibility for OAS
To qualify for OAS in Canada, you must:
- Be 65 years or older.
- Be a Canadian citizen or legal resident.
- Have lived in Canada for at least 10 years after turning 18.
For the full OAS pension, you need to have lived in Canada for 40 years after turning 18. Those with fewer years of residency may receive a partial pension, proportional to their time in the country.
Eligibility for GIS
To qualify for the Guaranteed Income Supplement (GIS), you must:
- Be receiving OAS payments.
- Have an annual income below the eligibility threshold (this varies depending on your marital status).
Example:
A single senior with an annual income below $20,832 in 2025 may qualify for the full GIS amount.
OAS Payment Schedule for 2025
OAS payments are issued on the last business day of each month. Here’s the 2025 OAS payment schedule:
- January 29, 2025
- February 26, 2025
- March 27, 2025
- April 29, 2025
- May 28, 2025
- June 26, 2025
- July 29, 2025
- August 28, 2025
- September 26, 2025
- October 29, 2025
- November 27, 2025
- December 23, 2025
February 26, 2025, is the expected date for your OAS payment that month.
How to Apply for OAS
If you’re eligible for OAS, you may already be automatically enrolled. You’ll receive a notification from Service Canada if you are.
If you haven’t been automatically enrolled, here’s how to apply:
- Check Your Eligibility: Visit Canada.ca to confirm your eligibility.
- Gather Necessary Documents:
- Proof of age (e.g., birth certificate or passport)
- Proof of residency
- Social Insurance Number (SIN)
- Apply Online or by Mail:
- Use your My Service Canada Account for faster processing.
- Alternatively, submit a paper application to your regional Service Canada office.
- Monitor Your Application: Track your application status through My Service Canada Account or contact Service Canada directly.
Tips to Maximize Your OAS Benefits
1. Delay Your OAS Start Date
If you defer OAS past age 65, your payment increases by 0.6% for every month you delay, up to 36% more at age 70.
Example: Delaying your OAS for three years (until age 68) increases your monthly payment by 21.6%.
2. Minimize Your Taxable Income
To avoid the OAS clawback, reduce your taxable income by contributing to a Tax-Free Savings Account (TFSA) or splitting pension income with your spouse.
3. Apply for GIS
If you’re a low-income senior, apply for the Guaranteed Income Supplement (GIS) to boost your monthly income. Provincial programs, such as Ontario’s Guaranteed Annual Income System (GAINS), may provide additional financial support.
